FLOKI token grew by 430% in a month thanks to Elon Musk

The value of the meme cryptocurrency FLOKI has grown by 485.2% in 30 days, all thanks to a post by Elon Musk on Twitter. A few days ago, the billionaire posted a photo of his pet Floki, who allegedly solves the social network’s problems. The dog’s T-shirt reads «CEO» — the highest executive position in the company.

The previously little-known token managed to outperform its main competitors Dogecoin and Shiba Inu. The trading volume of FLOKI has increased to $ 198 million. «The new Twitter CEO is incredible! He is good with numbers! And he has a cool style!» Musk described the published photos.

The new CEO of Twitter is amazing pic.twitter.com/yBqWFUDIQH

— Elon Musk (@elonmusk) February 15, 2023

Floki is an ERC-20 token based on the Ethereum blockchain. It is named after Elon Musk’s dog, so any information related to the businessman’s animal often causes Floki to grow.

A few days ago, photos of Elon Musk wearing a shiba-inu T-shirt appeared on the Internet — the billionaire came to the Super Bowl wearing clothes with the DOGE symbol. However, these images had no impact on the price of Dogecoin, Floki, or Shiba Inu.

Many users took Floki’s photo as a hint that the social network will introduce cryptocurrency payments in the near future. Currently, the Twitter team is working on developing an architecture to launch payments on the platform. Although the payment technology will primarily focus on fiat transactions, it will be built in such a way that crypto functions can be added in the future.